Business/economics
Proposed and final notices of sale represent nearly 80 million acres in the Gulf of Mexico and approximately 1 million acres in Alaska’s Cook Inlet.
The US and UK sanctioned Russian independent Lukoil International and state-owned Rosneft in a bid to pressure Russia over Ukraine.
Ranger acquires American Well Services for $90.5 million, adding 39 workover rigs and boosting its fleet by 25%.
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Of all the attention generated over the opening of the Mexican oil and gas sector to the outside world, one consideration has been largely left out of the discussion: What does it all mean for service companies? -
With Iran re-entering the global oil market, this article looks at the state of Iran's oil industry, the condition of its fields, its use of technology, and its present and future production potential.
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A panel discussion at the 2016 OTC in Houston focused on the factors that influence deepwater developments, the scenario for the future, and the opportunities available within the industry. One key question asked was: What oil price is required to keep deepwater viable over the long term?
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Representatives from various national oil companies, multinational operators, service companies, and fabricators discuss the roles individual countries in the Asia Pacific region will play in the global oil market and the overall development of the region.
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In the Price of Oil, Roberto Aguilera and Marian Radetzki predict a dramatic increase in shale oil and other tight oil production from about 4 million BOPD today to as much as 40 million in 2035. This will have a limiting effect on oil price.
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Holding little back, speakers at the annual IHS CERAWeek conference in February discussed how the industry has been shaped by the disruptive impact of North American shale production and predicted that many more months of financial pressure will spell the end for some companies.
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Russian oil production has remained on a growth path despite the plunge in oil prices because producers have built their business on producing oil for less than USD 30/bbl.
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The deepwater blocks Mexico plans to lease to international operators in December are among the deepest, most remote, and geologically challenging in the world. But the difficulties of developing these areas will start onshore, where adequate and secure port facilities are few and far between.
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Panelists at CERAWeek discussed the numerous steps their companies are taking to achieve large-scale permanent, in addition to cyclical, capex reductions on major projects.
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As oil companies struggle with the collapse in crude prices and industry upheaval, assessing the future of exploration and production (E&P) in specific countries requires a longer term vision of a market in which prices will have stabilized and rebounded to a level yet undetermined.
